Spending on advertising in Ireland will rise above €1.4 billion this year, an increase of 3.8%, according to marketing communications company Core.
That is despite the current economic headwinds, and challenges facing big digital advertising platforms like Google and Facebook.
"Advertisers are continuing to invest within the individual media channels," said Colm Sherwin, chief digital and investment officer at Core.
"We've seen a healthy start to the year, but like all industries people are being cautious within this space," he said.
"We would always promote more long-term planning when it comes to advertising but certainly, under the current circumstances, we are seeing a lot more short-term planning within the industry," he added.
In its 2023 Outlook Report, Core said ad spending rose across most categories in 2022.
Spending on online video ads rose by around 10% to €365m, while online ad spend rose by 2.6% to €810m.
Radio and digital audio spending was up 7.8% to €152.7m, while spending on out-of-home ads jumped by 24% to €70.5m.
Meanwhile cinema advertising grew by 62.2% to €3.5m, recovering some of the ground lost during the height of the pandemic.
Print and digital news media was the only category to see a decline last year, according to Core, with spending down around 5% to €31.4m.
"If you speak to most of the print publishers, they are slowly moving towards a Digital First strategy at the moment," Mr Sherwin said.
"The problem we would often see is your Tuesdays or Wednesdays, when newspaper circulation would be quite low, but then you move to the weekend and you still see phenomenal numbers," he added.
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Core predicts digital media investment will return to growth this year, but predicts that investment in print ads will fall by 10.4%.
That is part of a continued shift towards digital outlets, and particularly those focused on video.
Core predicts that online video spending will grow by 16.4% to €425m - with YouTube, TikTok and Meta among the main beneficiaries.
Online ad spend is predicted to grow by 6.1% to almost €860m - with social making up more than 40% of that figure.
However it warns that there is the potential for momentum to shift given global economic pressures - and some types of ad-buyer are likely to come under more pressure than others.
"If you look at large advertisers, the likes of your Proctor & Gambles, the likes of your Aldi and Musgraves, they will continue to invest during these periods," Mr Sherwin said.
"If you look at Google and Facebook, nearly 75% of their revenue comes from SMEs - but the problem with SMEs is that they are the first to be impacted by a cost of living crisis".
"So when their energy bills land, when their wages increase, the first element of their business that they lower spend in is often marketing," he explained.
Yesterday Meta announced plans to lay off 10,000 workers - on top of the 11,000 job cuts announced in November 2022.
Mr Sherwin said that the company is facing a number of challenges at the moment - including a tougher environment and increased competition.
"There was an iOS update that meant we couldn't report to the level of what we've done in the past," he said. "As well as that you have TikTok - it's seeing phenomenal growth.
"Depending on your data source TikTok consumption is between 45 minutes and 90 minutes a day; and that happens on your mobile phone. And if you're on your mobile phone consuming TikTok it means you're not consuming another platform."
Cinema advertising will jump by 15%, it says, though it will still remain well below pre-pandemic levels.
Meanwhile television, radio and digital audio will all enjoy growth again this year - but at far lower rates than before.
